Coronado California real estate is some of the most unique unique real estate in southern California. For starters, Coronado is an island. To be accurate, it is technically connected to the mainland by a narrow strip of land that leads through the Coronado Cays to Imperial Beach. Coronado is a fascinating mix of military town, tourist destination, beach town, and it is home to some of the most prestigious, sought after real estate in San Diego. It is not known for large lots (although there are a few), but is known for gorgeous ocean / city views, charming streets, fantastic walkability and an amazing beach. Coronado is both where Navy seals do their training and where some of the world’s elite vacation and own homes. Whether you are considering buying or selling a home in Coronado, this article will provide you with metrics, graphs and insight into Coronado California real estate market conditions. All the visuals and data presented here are updated daily to deliver ultra-timely real estate market information to you that is always up to date.
There are many unique aspect to Coronado. If you would like a more comprehensive look (including schools, restaurants, history, etc), please take a look at my Coronado real estate neighborhood guide. If you are looking primarily for real estate market information on Coronado, you are still in the right place!
Coronado has a diverse mix of properties ranging from condos to ultra-luxurious oceanfront homes. Some of the properties on the northerly portion of the island enjoy stunning views of the downtown San Diego skyline. With a relatively small land area and high demand, it is not surprising Coronado is one of the more expensive places in the San Diego region to buy a home in. Just what exactly is “expensive” by Coronado standards? Let’s dive into current home prices, and some of the supply and demand stats that define this unique real estate market.
Coronado California Real Estate Home Prices
As you evaluate Coronado California real estate, one key statistic is the value of homes in the area. For buyers, information on average and median home sales prices can provide a rough gauge on Coronado real estate vs San Diego home prices in other neighborhoods.
Ideally, sellers will want a detailed comparative market analysis by an experienced Coronado real estate agent. That analysis should look at homes most comparable to yours, vs the more general numbers seen here. The average and median home price along with price per square foot information below is broken down into single family detached homes as well as attached homes (including townhomes and condos). Even if you are looking for a condo, it is very hard to find any real estate in Coronado under $1M.
Coronado – Average Home Price
Coronado – Median Home Price
Coronado – Average Price Per Square Foot
Coronado California Real Estate – Home Supply
Many longtime homeowners in Coronado have enjoyed substantial appreciation in home values over the decades. However, like elsewhere in San Diego, market conditions can and do vary. One useful aspect in determining the type of market we are currently seeing in Coronado California real estate is the level of supply. Taking a look at both the number of active listings along with the inventory (measured in months) can provide insights into overall supply in Coronado.
The months of inventory charted here is also referred to as the absorption rate. Our data source defines this as: “Active Listings at the end of a given month, divided by the average monthly Closed Sales for the last 12 months.” From a different perspective, if there were no new listings, the inventory level would be how many months it would take for existing demand to purchase all the remaining listings.
Some economists like to use a six month threshold for evaluating housing supply. Less than six months of inventory is viewed as a seller’s market. More than six months is seen as a buyer’s market. For some context, the last couple decades has had significant variation in inventory levels. In Coronado, we have seen inventory spike to over 24 months around 2009 during the great recession, and drop below 3 months in the early part of 2021. With this six month threshold equating to a “healthy” mix of buyers and sellers, Coronado has definitely seen both types of markets.
Coronado – Number of Active Listing
Coronado – Inventory
Coronado California Real Estate – Market Time and Pending Sales
With Coronado’s higher price point, it has had longer market times than other parts of San Diego County. There are fewer buyers of multi-million dollar, ocean view homes vs buyers of homes closer to the median home price in San Diego. The Active Market time you see in the graph below is the median number of days between when a property is listed in Coronado and when an offer is accepted in a given month. Two to three months has been a typical timeframe for active market time in many of the market’s recent years. However, like many markets in San Diego, we have seen a dip to shorter market times in 2020-2021.
Coronado – Median Active Market Time
Many real estate stats focus on closed sales, which are vital for determining market prices. However, closed sales are a glimpse into the recent past. Pending sales, as seen below, are a count of the properties on which contracts have been accepted in a given month. These pending sales can sometimes provide insight into where a market is headed vs where it has already been.
Coronado California Real Estate – Pending Sales
This article on Coronado is part of a series focusing on statistics and data from specific San Diego neighborhoods. If you would like to review more general market information, please visit my article on the broader San Diego real estate market. I am also happy to provide more insights into your specific San Diego neighborhood’s real estate market upon request.
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